Dubai: Dubai’s Tecom group, landlord behind some of the city’s leading free zones, saw a sharp 28 per cent jump in 2022 net profit to Dh725.6 million. This was on revenues of Dh1.97 billion, which is up 12 per cent.

The Board of Directors is recommending a Dh200 million payout in April. “As per our declared dividend policy, we distributed Dh200 million in cash dividends in November 2022,” said Malek Al Malek, Chairman. “Following our exceptional FY2022 performance, the Board of Directors has recommended an interim dividend payment of Dh200, which will bring the total dividend to Dh400 million for the second-half of 2022.

“We remain committed to distributing a total dividend of Dh800 million per annum in our first three years of being a listed company…”